Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The Company assesses the recoverability of the carrying value of goodwill on a reporting unit basis on October 1 of each year, whenever events occur or changes in circumstances indicate the carrying value of goodwill may not be recoverable. There have been no events or changes in circumstances that would indicate the carrying value of goodwill may not be recoverable through March 31, 2021.

Changes in goodwill during the three months ended March 31, 2021 and the year ended December 31, 2020 were as follows:


	Goodwill
Goodwill balance at December 31, 2019	$	491
Foreign currency translation	10
Goodwill balance at December 31, 2020	$	501
Foreign currency translation	7
Goodwill balance at March 31, 2021	$	508

Intangible Assets

The following sets forth the major categories of the Company’s intangible assets and the weighted-average remaining amortization period as of March 31, 2021 and December 31, 2020.


	March 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Amortization Period (Years)
Trademarks and Technology	$	26,308	$	(8,666)	$	17,642	9.2
Product acquisition costs	25		—		25		N/A- See description below
In process research and development ("IPR&D")	47		—		47		N/A- See description below
Customer relationships	3,713		(1,954)		1,759		4.6
Total	$	30,093	$	(10,620)	$	19,473


	December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Amortization Period (Years)
Trademarks and Technology	$	28,893	$	(8,172)	$	20,721	9.5
Product acquisition costs	76		—		76		N/A- See description below
In-process research and development ("IPR&D")	337		—		337		N/A- See description below
Customer relationships	3,689		(1,859)		1,830		4.9
Total	$	32,995	$	(10,031)	$	22,964

Changes in intangibles during the three months ended March 31, 2021 were as follows (in thousands):










	Trademarks and Technology		Product Acquisition costs		IPR&D		Customer Relationships
Balance at December 31, 2020	$	20,721	$	76	$	337	$	1,830
Amortization	(494)		—		—		(94)
IPR&D placed in service	—		—		—		—
Loss on impairment	—		—		—		—
Foreign currency translation	(2,585)		(51)		(290)		23
Balance at March 31, 2021	$	17,642	$	25	$	47	$	1,759

Under the provisions of ASC 360-10-55, the Company reviews its intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. There were no changes to the assumptions made at the first quarter of this year that would suggest further impairment. The Company did not have impairment triggers during the first quarter of 2021 related to its long-lived assets.

The useful lives of the Company’s intangibles are as follows:


Intangibles Category			Amortizable Life
Product Acquisition Costs			10 years
Trademarks and Technology			15 years
Customer Relationships			10 years

IPR&D and Product Acquisition costs will be amortized over their estimated useful lives once products are commercialized.